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This morning I'm introducing 2 new ideas.

The Mag7 have petered out a bit which is an opportunity to do some bargain hunting.

So I'm adding 2 Mag7 names -- Nvidia (NVDA) and Amazon (AMZN).

Idea #1: NVDA

Name: Nvidia

Ticker: NVDA

Price: $136.40

Needs to Hold: $126 to $133

Price Objective 1: N/A

Price Objective 2: N/A

Nvidia (NVDA) was stuck in a range but now it seems primed to take out $138 and then $141.90. CEO Jensen Huant is hosting a keynote at CES on Monday night which could be a near-term catalyst.

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Idea #2: AMZN

Name: Amazon

Ticker: AMZN

Price: $221.50

Needs to Hold: $205 to $216

Price Objective 1: N/A

Price Objective 2: N/A

Amazon (AMZN) is well off the $233 December high and looks ready to rebound. So it's also a new Power Play today.

-Scott